Ravindra Energy Secures Rs 100 Crore Tata Capital Loan for EIM
Renewable energy company Ravindra Energy Limited has executed a loan agreement with Tata Capital Limited for a rupee term loan facility capped at Rs 100 crore. The Belgaum-based company informed BSE Limited and the National Stock Exchange of India Limited on November 6, 2026, disclosing that the agreement was executed on November 5, 2026.
Downstream Loan Infusion and Commercial Terms
Ravindra Energy intends to deploy the borrowed capital toward unsecured lending into jointly controlled associate Energy In Motion Limited or its subsidiaries. The borrowing carries a floating interest rate of 12.75% per annum, which is payable on a monthly schedule. Ravindra Energy stated in exchange filings that availing the credit facility does not fall within related-party transactions under the Companies Act, 2013, or SEBI listing regulations. Under the agreement, Tata Capital reserves the right to appoint a nominee director to Ravindra Energy's board only in the event of a default and its subsistence. According to a monitoring agency report by CARE Ratings Limited, Ravindra Energy fully deployed ₹150 crore into its associate company Energy In Motion Limited without deviation.
Collateral Structure and Promoter Guarantees
The credit facility is backed by a security package featuring a first pari passu charge on present and future movable fixed assets and current assets of Ravindra Energy. Security also includes a first pari passu charge on cash flows upstreamed from project special purpose vehicles, including subsidy receipts from PM KUSUM projects and top-up debt raised at the SPV level. Tata Capital receives a first exclusive charge over the unsecured loan infused by Ravindra Energy into Energy In Motion Limited from the proceeds of the facility. Additional collateral comprises an unconditional and irrevocable personal guarantee from promoter Narendra Murkumbi alongside a corporate guarantee from promoter entity Khandepar Investments Private Limited. The facility is further secured by a pledge of promoter shareholding in Ravindra Energy with one-time cover on an outstanding basis.
The filing notes that the agreement also secures interest, liquidated damages, fees, and operational expenses payable to the lender.
Capital History and Energy In Motion Operations
The term loan follows earlier corporate capital actions, including a June 2026 rights issue that allotted 19,854,940 equity shares and raised Rs 200.53 crore. Ravindra Energy previously reported 228.9 MWp of operational solar capacity and a 258 MWp project pipeline, with total borrowings standing at Rs 502 crore at the end of March 2026. The company has expanding operational ties with associate Energy In Motion in electric commercial vehicles, including a vehicle complex in Talegaon near Pune. Energy In Motion's commercial rollout targeted deploying 500 electric heavy commercial vehicles across high-density corridors, starting with 50 electric vehicles on the Mumbai-Pune route in October 2026, according to Sahi Markets.